|
BLEAK FUTURE FOR RESIDENTIAL REAL ESTATE |
|
|
|
|
Written by Administrator
|
|
Sunday, 17 December 2006 |
In 2005, 17 percent of Florida’s 1.1 million residents are confronting a serious affordable housing problem, according to the UF’s Bergstrom Center for Real Estate Studies Data.
A survey done by Florida Tax Watch found out that in 2005, Miami-Dade’s percentage of households who are unable to afford even a median 2-bedroom rental came in first with a total of 68 percent.
Is residential real estate really facing a bleak future?
According to a survey done by the University of Florida, more than 70 percent of real estate professionals confirmed such a grim view.
Although they were optimistic about the outlook for commercial real estate that has been witnessing a stable and increasing occupancy rate, they still warned the danger of building condos. 40 percent of these experts even recommended the same thing for single-family housing.
The negative outlook of residential real estate is also expressed by 93 percent of South Florida respondents saying in a recent Sunshine State Survey released by Leadership Florida that people are moving in and out of the area because affordable housing is currently, indeed, a serious problem besetting them.
Roma Agsalud
http://miamirealestateinc.com |
